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County treasurer reviews district share of pooled investment earnings; trustees ask how funds flow to general fund
Summary
Merced County Treasurer presented the county investment policy and a portfolio review showing $78 million interest earned in the fiscal year and a market valuation near 99.92%. The presentation noted schools received over $42 million of the fiscal-year interest; trustees asked how the apportionment is calculated and how funds post to the district general fund.
Karen Adams, Merced County Treasurer, presented the county’s Investment Policy 2025 and a portfolio review at the board meeting on Oct. 14. She stressed a conservative approach prioritizing the return of principal, liquidity and safety and described self-imposed limits and oversight by a Treasury Oversight Committee created after the Orange County losses of the 1990s.
Adams reported that the pool’s book value was about $2.25 billion and that the portfolio’s mark-to-market was…
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